June19, 2006
By Dylan Skriloff
If you own a manufacturing business, you may be eligible to benefit from a new business grant offered by Empire State Development.
The Manufacturer's Assistance Program (MAP), implemented last fall, is targeted to provide grants of up to $1 million to support investments in new equipments or facilities. Eligible businesses are manufacturers with between 50 and 1,000 employees; and that export at least 30 percent of their output beyond the immediate region, or supply at least 30 percent of their production to a prime manufacture that exports beyond the region.
"The reason that's important is by exporting they are then importing wealth into state. The profits from sales come back to NY and provide greater benefit to regional economy. Most manufacturers meet that test," said Jeffrey Boyce, ESD's Assistant Deputy Commissioner for Manufacturing Services and program director of MAP.
So far three New York companies have been helped by the grant project, receiving between $500,000 and $950,000 and 15 others are in planning stages. Eligible projects must have investments of at least $1 million directed at improving productivity and/or competitiveness, such as new equipment, buildings and infrastructure improvements, improved manufacturing processes, improved efficiency, and/or pollution prevention.
Participants are required to maintain at least 85 percent of their current employment for a five-year period. Boyce said that there are about 2,200 manufacturing firms with between 50 and 1,000 employees in the State. Those contemplating investment need to find a regional ESD office and talk to a representative. The Hudson Valley Region has a mid-Hudson office in New Windsor at Stewart Airport. 33 Airport Center Drive, Suite 201 845-567-4882
"Prospects need to have a plan ready to go before they have actually spent any monies, so ESD can understand what they want to achieve and how they want to spend," Boyce said.
Empire State Development (ESD) is New York State's lead economic development agency, with co-headquarters in Albany and New York City. It is supported by a network of 18 additional ESD Offices throughout the state and around the world. The organization is comprised of highly qualified professionals who help businesses:
- Start up a company in New York State;
- Relocate to or establish a presence in New York State;
- Expand already existing operations in New York State;
- Retain and enlarge their work force in New York State;
- Compete more effectively and profitably in the domestic and international marketplace.
For more information, please contact Empire State Development at 800-STATE NY. The program director is Jeffrey Boyce, Assistant Deputy Commissioner for Manufacturing Services, phone (518) 292-5340.
For a story about the company most recently impacted by MAP, Steuben Foods, see the ESD newsletter article at:
http://www.nylovesbiz.com/pdf/ESDnews_Summer06.pdf. |
June 19, 2006
End of Session Action in Albany
- Pataki Vetoes Union Move to Add More Workers to State Payroll
- Gubernatorial candidates detail property-tax relief programs
- Lawmakers propose comprehensive debt reform legislation
Free Grant Money Offered by State for Manufacturers Looking to Expand
Rockland Recycling Leaders Honored at Second Annual Award Cereonomy, Hosted by RBA -
Three RBA members win Annual Trophies for Excellence
Archived Newsletters
|
